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What’s Behind the FX Market’s New Benchmark? FX turnover is down, but not by as much as some expected. Why?
CLS Volumes Ease in July The average daily input volume of instructions submitted to CLS, combining the settlement and aggregation services, fell 9.7% month on month in July, standing at 1,050,046. However, year on year volumes were less changed, decreasing by just over 1.7%. Meanwhile, the average daily ...
More Platforms Report July Volume Decline Thomson Reuters, FX Spotstream and FXCM have all reported a month-on-month decline in FX average daily volume (ADV), however the latter two are up on a year-on-year basis. Thomson Reuters says spot volumes across its platforms was $97 billion per day, 8.5% ...
Virtu Sees FX Revenues Fall: Signs Deal with JPM Virtu Financial has signed a three year deal with JP Morgan to provide technology and market access to the dealer-to-dealer US Treasury market. “I am very pleased to announce that we have partnered with JP Morgan on an initiative to ...
Platform Volumes Fall Back in July The first batch of trading venues to provide turnover data indicates that trading volumes in July, perhaps inevitably, retreated from the Brexit-inspired heights of June. HotspotFX reports average daily volume (ADV) of $26.25 billion in July, down 9% from June’s $28.8 billion. ...
CLS Volumes Surge in June The average daily input value submitted to CLS was $5.19 trillion in June, up 12.6% from the previous month and up 3% year-on-year. Average daily input volume submitted to CLS, combining the settlement and aggregation services, was 1.16 million in June. This represents a 20% ...
BoE Surprisingly Maintains Rates at 0.5%, Expects Stimulus Measures in August In a surprise move the Bank of England’s Monetary Policy Committee overwhelmingly voted to maintain bank rates at 0.5% Thursday, although it said it expects to take some stimulus measures in August. At its meeting ending July 13, the MPC voted ...
Sustained GBP Fall May Pressure UK Corporate Ratings… The depreciation of sterling since the Brexit vote could increase pressure on UK corporate ratings, with UK retailers and airlines particularly exposed, says ratings agency, Fitch. Although Fitch says that the falling value of the pound is unlikely to spur ...
Liquidity an Issue Again in Further Cable Collapse Liquidity in FX markets is again a hot topic following a sharp move lower by Cable in Asian trading. In the space of a minute sterling dropped from 1.2930 to under 1.2800 – market sources say liquidity is very thin and exacerbating the ...
BoE Warns of Market Fragility After Brexit Vote A further deterioration in investor appetite for UK assets, together with a potential rise in the number of vulnerable households and increased fragility in financial markets are among the main risks that the Financial Policy Committee of the Bank of ...